Zions Bancorp. in Salt Lake City lost $179.5 million, or $1.41 a share, in the third quarter, missing analysts' estimates by 17 cents.
A year earlier, Zions earned $33.3 million, or 31 cents a share
The $53.6 billion-asset company's provision for loan losses more than tripled from a year earlier but fell 25.8% from the second quarter, to $565.9 million. Nonperforming assets (including those acquired in deals assisted by the Federal Deposit Insurance Corp.) more than tripled from a year earlier and rose 34.5% from the second quarter, to $2.77 billion.
The company attributed its results mainly to losses on residential construction and other real estate loans. It also posted $56.5 million in credit-related impairment losses on collateralized debt obligations, compared to $42 million in the second quarter.